New data shows that nearly 40 percent of all homes in the United States are owned free and clear, with “the highest share” in West Virginia at 54%,” said Bloomberg. “Maryland and the District of Columbia were on the other end of the
spectrum with rates of 27% and 24%, respectively.”
“All cash, seven-day close.” Those words are a dream for a home seller and a real estate agent, but while they may be thrown around on shows like Million Dollar Listing to entice a buyer to accept a $28 million offer on a $30 million
list price, how realistic is it to close so quickly in the real world? Not very, it turns out. Yes, an all-cash offer can greatly speed up closing (and, even then, seven days is rare). But for the 75% or so of buyers who finance
their home purchase, “47” is the magic number.
In a tough market, it pays to be prepared. Make sure you’re ready to pounce once you find your dream home with these five tips to help you place the winning bid.
Many starter-home purchases are driven primarily by price, which is understandable. But, there are so many other considerations involved in finding the right place, like square footage and location, to name just a few of the most consequential.
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates continued to hover near three-year lows and purchase application demand has
responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017. While the improvement has yet to impact home sales, there’s a clear firming of purchase demand that should translate into
higher home sales in the second half of this year."
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